Dr. Reddy’s Laboratories to acquire business divisions of Wockhardt for $260m.

Dr. Reddy’s Laboratories, a provider of a complete range of pharmaceutical services, agreed to acquire business divisions of Wockhardt, which specializes in the production of pharmaceuticals, in both generic and prescription forms for $260m. “India is an important market for us and this acquisition will help in considerably scaling-up our domestic business. The acquired portfolio shall enhance Dr. Reddy’s presence in the high growth therapy areas with market leading brands such as Practin, Zedex, Bro-zedex, Tryptomer and Biovac. We believe the portfolio holds a lot of potential and will get an impetus under Dr. Reddy’s. We welcome the team joining as part of the deal to the Dr. Reddy’s family,” G V Prasad, Dr. Reddy’s Co-Chairman and Managing Director.